Zacks: Analysts Anticipate Sanmina Corp (NASDAQ:SANM) Will Post Earnings of $0.68 Per Share

Brokerages forecast that Sanmina Corp (NASDAQ:SANM) will post $0.68 earnings per share for the current quarter, Zacks reports. Zero analysts have issued estimates for Sanmina’s earnings. Sanmina reported earnings per share of $0.83 during the same quarter last year, which indicates a negative year-over-year growth rate of 18.1%. The company is scheduled to report its next quarterly earnings results on Monday, January 27th.

On average, analysts expect that Sanmina will report full year earnings of $2.92 per share for the current year. For the next fiscal year, analysts forecast that the company will post earnings of $3.43 per share. Zacks’ EPS averages are an average based on a survey of sell-side research firms that that provide coverage for Sanmina.

Sanmina (NASDAQ:SANM) last announced its quarterly earnings data on Monday, October 28th. The electronics maker reported $0.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.07. Sanmina had a return on equity of 14.09% and a net margin of 1.72%. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period last year, the company earned $0.67 earnings per share. Sanmina’s quarterly revenue was up .9% compared to the same quarter last year.

A number of equities research analysts have recently weighed in on the company. ValuEngine downgraded Sanmina from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Zacks Investment Research cut Sanmina from a “hold” rating to a “sell” rating in a research note on Tuesday, September 17th. TheStreet downgraded Sanmina from a “b” rating to a “c+” rating in a report on Monday, October 28th. Finally, BidaskClub raised shares of Sanmina from a “sell” rating to a “hold” rating in a research report on Thursday, September 12th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Sanmina currently has an average rating of “Hold” and a consensus price target of $33.00.

SANM stock traded down $0.62 during mid-day trading on Tuesday, hitting $30.56. The stock had a trading volume of 1,514 shares, compared to its average volume of 417,347. The company has a current ratio of 1.74, a quick ratio of 1.20 and a debt-to-equity ratio of 0.21. Sanmina has a 1-year low of $22.30 and a 1-year high of $34.71. The company has a fifty day moving average of $31.69 and a 200 day moving average of $30.48. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 0.95 and a beta of 1.31.

In related news, EVP Alan Mcwilliams Reid sold 8,503 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $32.26, for a total value of $274,306.78. Following the transaction, the executive vice president now directly owns 37,195 shares of the company’s stock, valued at approximately $1,199,910.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Dennis Young sold 30,933 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $32.35, for a total value of $1,000,682.55. Following the completion of the transaction, the vice president now directly owns 27,157 shares in the company, valued at $878,528.95. The disclosure for this sale can be found here. Insiders sold 238,972 shares of company stock valued at $7,741,768 over the last quarter. 5.55% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in SANM. Nuveen Asset Management LLC acquired a new position in shares of Sanmina during the 2nd quarter worth about $38,749,000. Neumeier Poma Investment Counsel LLC acquired a new position in shares of Sanmina during the second quarter worth approximately $20,185,000. BlackRock Inc. boosted its position in shares of Sanmina by 4.4% in the second quarter. BlackRock Inc. now owns 11,043,399 shares of the electronics maker’s stock valued at $334,393,000 after acquiring an additional 467,702 shares during the period. Reilly Financial Advisors LLC bought a new stake in shares of Sanmina in the third quarter valued at approximately $9,394,000. Finally, Morgan Stanley boosted its position in shares of Sanmina by 357.7% in the second quarter. Morgan Stanley now owns 354,302 shares of the electronics maker’s stock valued at $10,728,000 after acquiring an additional 276,897 shares during the period. Institutional investors own 93.32% of the company’s stock.

Sanmina Company Profile

Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two segments, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, and manufacturing design release; manufacturing solutions of components, subassemblies, and complete systems; final system assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services.

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